utah construction & mining co and subsidiaries 10 year comparison consolidated years ended october 31 mber of shareholders notes to consolidated financial statements continued he statement of consolidated income periods are 3,460,000 for 1968 and 3,180,000 for 1967 including payable upon distribution of undistributed earnings of affiliates pay ment credit had no significant eff 1 amounts included in the provision f will not be due and payable untilfuti 1,065,030 and 901,584 provision for taxes pa 6 surplus restriction the company's long-ti of outstanding capital stock and on the purcha mitted by the respective joint ventures proceeds fi of cash dividends on the purchase or r ion of convertible debentures and on a i surplus in the amount of 18,348,000 v ars accordingly the company 1 basis the company s share of such claim solved i of this ual liability of contractors s lending 8 contingent liabilities and commitments contingent liabilities include for the performance and completion of both company and joint venture contracts a wholly owned subsidiary has obtained commitments permitting borrowings of 50,000,000 frc institutions without the united states which borrowings if made would be guaranteed by the parent com pany peruvian income tax deficiencies have been proposed against an affiliate of the company for the taxable years 1957 through 1967 the deficiencies are being conlested by the affiliate based upon advice of counsel the affiliate has advised the company that it considers it unlikely that the proposed deficiencies will be upheld in the event of an adverse decision any resulting tax liability of the affiliate in the company's opinion would not have a material effect on the accompanying financial statements and no provision there fore has been made the company is defendant to certain litigation arising out of the i960 merger with lucky ba.c uranium corporation on october 2 1967 the trial court rendered a general judgement in favor of the company appeal by the plaintiffs is currently pending the company has been advised that in counsel's opinion the appeal is without merit accordingly no provision has been made in the accompanying financial statements for any liability arising from such litigation the company has a lease agreement expiring in 1980 for the rental of its home office the annual base rental under ihis agreement varies from 254,000 for 1969 to 270,000 for the last five years of the lease the company also has a jong-term lease agreement for equipment requiring payments of approximately 4/0,04)0 the parent company's united states federal income tax returns have been examined through 1966 and all deficiencies paid ¦¦¦¦¦¦¦¦ mfflml net incom per shan dividends per share stockholders equity mineral sales backlog gross revenue as of october 31 m mining operations lai total assets